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An accountant who willfully violates Section 11 of the 1933 Act is subject to fines of up
to $100,000 or imprisonment of not more than three years, or both.
Morris ordered 1,000 sq. ft. of green carpet from RS Company. In error, RS Company
shipped 1,000 sq. ft. of gold carpet. In this case, the risk of loss remains with the seller
until the seller remedies the defect.
In general, a tenant is under a duty to make minor repairs to the leased premises.
The Consumer Product Safety Commission cannot issue an order banning a hazardous
product from the market.
Legal detriment means the obtaining by the promisor of that which he had no prior legal
right to obtain.
